But Obama’s statements in particular are worth a closer look, because the comments of the one-time champion of fiscal stimulus underscore just how disconnected political rhetoric about economic growth has become from the current jobs crisis. In reply to Lehrer’s opening invitation to talk about his jobs vision, the president said this, according to CNN’s transcript:
Governor Romney has a perspective that says if we cut taxes, skewed towards the wealthy, and roll back regulations, that we’ll be better off. I’ve got a different view.
I think we’ve got to invest in education and training. I think it’s important for us to develop new sources of energy here in America, that we change our tax code to make sure that we’re helping small businesses and companies that are investing here in the United States, that we take some of the money that we’re saving as we wind down two wars to rebuild America and that we reduce our deficit in a balanced way that allows us to make these critical investments.
After Romney laid out his own five-point plan, Obama countered with this:
Well, let me talk specifically about what I think we need to do. First, we’ve got to improve our education system and we’ve made enormous progress drawing on ideas both from Democrats and Republicans that are already starting to show gains in some of the toughest to deal with schools. We’ve got a program called Race to the Top that has prompted reforms in 46 states around the country, raising standards, improving how we train teachers.
So now I want to hire another 100,000 new math and science teachers, and create 2 million more slots in our community colleges so that people can get trained for the jobs that are out there right now. And I want to make sure that we keep tuition low for our young people.
When it comes to our tax code, Governor Romney and I both agree that our corporate tax rate is too high, so I want to lower it, particularly for manufacturing, taking it down to 25 percent. But I also want to close those loopholes that are giving incentives for companies that are shipping jobs overseas. I want to provide tax breaks for companies that are investing here in the United States.
On energy, Governor Romney and I, we both agree that we’ve got to boost American energy production, and oil and natural gas production are higher than they’ve been in years. But I also believe that we’ve got to look at the energy sources of the future, like wind and solar and biofuels, and make those investments.
He returned to the theme of education as an avenue to job-creation a bit later:
When it comes to community colleges, we are seeing great work done out there all over the country because we have the opportunity to train people for jobs that exist right now. And one of the things I suspect Governor Romney and I probably agree on is getting businesses to work with community colleges so that they’re setting up their training programs… where they’re partnering so that they’re designing training programs. And people who are going through them know that there’s a job waiting for them if they complete it. That makes a big difference, but that requires some federal support.
This is all consistent with the “win the future” message Obama has been leaning on for a couple years now: invest in education and infrastructure, pursue an “all of the above” energy strategy, work to bring down the deficit, share the costs fairly. It’s a perfectly respectable entry in the “clash of philosophies” that the campaigns apparently want to engage in when they decide to be high-minded—Obama called the difference between his and Romney’s long-term budget visions “one of the central questions of this campaign”—and that much of the press is happy to write about. But, as Barro’s pithy headline put it, this is “substance-free substance”—the big stuff, like education reform and hiring more teachers, is simply not responsive to the pressing short-term crisis of joblessness, and the more targeted ideas, like partnerships between businesses and community colleges, are simply too small.
Another funny article posted on the CJR website. What's Obama short term plan? Well, perhaps to continue many of the immediate things he's done which have prevented the "Great Recession" from getting worse and possibly pulling us out of it earlier than expected. As opposed to the Romney philosophy of letting GM close, and letting many major financial institution's close. No governor, that won't increase the food stamp rolls. LOL!
Why don't you ask both canidates that question? Your article implies that Romney has some kind of short term plan. You can't seriously consider that amorphous collection of wishes that Romney articulated to be a short term jobs plan, can you? "I'll slash practically all taxes, especially on my wealthy friends and campaign contributors, cut all spending, and it will all magically work itself out." He might as well have said, "I'll wave my magic wand on the first day in office and 'poof' it will all go away and the world will be a paradise."
The funniest thing about your article is that it brings up stimulus in a way to suggest that you're surprised Obama doesn't propose another round of it. I'm not surprised, but then I'm only an unemployed former part-time journalist, not a "journalist" prestigious enough to blog on CJR. You know as well as I do that stimulus has become a dirty word and it's time for you in main stream journalism to admit it's partly your fault. Both sides spin, but one side has been telling out right lies for many years now, and it's YOUR job to refute them. You also know as well as I do that the first round of stimulus came from Bush, not Obama. Yet the majority of you have conveniently failed to repeatedly refute such accusations as the one blaming Obama for over 700 billion in TARP spending. You also know as well as I do that the first 300 billion was spent by Bush AND that an Inspector General reported that almost the entire sum went out without any system to monitor the spending of or to recover any of that money. That's very likely where the infamous Wall Street bonuses came from. That would have made a good story, but you largely missed it.
Yet your naive to imply that Obama say the word stimulus. Fine, he says it, gets defeated, and Romney takes office without a short term job plan and probably without any real long-term plans either. He'll "consult" about it. Of course Obama won't say stimulus.
Most importantly, what makes you think there IS a short term job solution? Roosevelt didn't have one. How do you persuade the banks to stop sitting on their hands and lend to America's small entrepeneurs? Maybe you should refrain from dabbling in economics.
#1 Posted by mediaman13, CJR on Fri 5 Oct 2012 at 09:04 AM
Obama's short-term jobs plan: get some govt agency to announce that unemployment has fallen to below 8%; get some "experts" from Goldman Sachs and elsewhere to vouch for the numbers; get the AP and MSM to flood the Internet with laudatory stories on the topic; and do it all in time to head off a drop in the polls that would've resulted from his ostensibly awful debate performance. Bam!
#2 Posted by Dan A., CJR on Fri 5 Oct 2012 at 03:14 PM
Romney's short term jobs plan: turn his back on the financial industry so they can bring about the next "Great Recession". Only this time, it will be the 2nd "Great Depression".
That's why they didn't invite Bush to the convention. Because the voters couldn't tell them apart. Heck, put Bush in the same room with Paul Ryan and you'd never figure out which one is which. Must we continute to suffer at Wall Street's mercy. What'd I say? Wall Street's mercy?!? Ohhahahahahahahahahahahahahahahahahahahahahah, it's so sad!
#3 Posted by mediaman13, CJR on Sun 7 Oct 2012 at 10:05 AM
both, obama's and romney's job plans can't succeed in isolation of the world economic downturn. obama's proposals sound more practical and could help grapple with joblessness in the u s immediately. but, let's not forget all nations' economies are intimately entwined and relief will be seen almost everywhere almost simultaneously. so, let's give more time. things will take off for the better if only obama returns. romney's plans will have to start afresh, if obama loses. and this will mean living with unemployment for another three years.
so it'll only be prudent to enable return obama and make him resolve the tedious the joblessness in the u s. m.r.dua
#4 Posted by Professor M. R. Dua, CJR on Wed 10 Oct 2012 at 06:47 PM
Thank you for adding something intelligent to this discussion,, sir, whether or not I actually agree with all your conclusions.
I'm a bit surprised at your choice to post without the use of capital letters. It could cause suspicion that you are, say, the M. R. Dua of the World Center for Academic Excellence and Research in India. Of course, using caps wouldn' t prove that either, but a certain percentage of the readers here are of the conspicacy theory variety and you may be compromising the effect of your post somewhat by posting informally. Assuming of course, that you are who you say you are. In our supercharged climate of political lies, few well meaning efforts at communication are viewed without suspicion.
#5 Posted by mediaman13, CJR on Wed 10 Oct 2012 at 07:32 PM